Layaway Function Making a Comeback In POS Software

It seems that all that goes around will come around again. Layaway was thought to be a thing of the past until the soft economy forced customers and retailers to look at different ways to keep business up. Layaway gives customers a chance to purchase an item that they possible could not otherwise afford. It is a win, win situation if they can shop and pay for the items they need over time. You the retailer are retaining the item and receiving deferred income until the merchandise is paid for. For this process to work well, you need POS software that will accurately account for all payment activity and inform customers through a layaway statement how their account stands. If it is a cumbersome process, the benefits of offering layaway is negated by the poor accountability of your current POS software or obsolete paper trail you are using. What’s old is now new again.